On Aon12 Sep 2024

Special Edition: Preparing Business for Changing Weather

As weather intensifies, leaders increasingly look to climate and weather mitigation strategies. But weather can often take a backseat to other risks of technology, trade, and workforce. This special “On Aon” episode explores a powerful tool for weather risk: parametric insurance.

Experts in this episode:
Laura Wanlass, Partner and Global Head of Corporate Governance Consulting
Liz Henderson, Global Head of Climate Risk Advisory

[2:29] Key questions linking parametric insurance and the management of weather risk
[2:41] How does parametric insurance work?
[4:42] How these policies are becoming increasingly important to businesses
[6:33] Addressing the protection gaps in the face of increasingly extreme weather with parametric insurance
[9:53] Steps for the practical application and implementation of parametric insurance
[12:30] Underscoring the impact of weather on every aspect of business

Additional Resources:

Climate Analytics Unlock Capital to Protect People and Property

2024 Client Trends Report: Better Decisions in Trade, Technology, Weather and Workforce

On Aon Special Edition: 2024 Business Decision Maker Survey

On Aon Special Edition: Aon’s 2024 Client Trends Report

2024 Business Decision Maker Survey

Tweetables:

“Parametric products have been around for a pretty long time in the insurance space, but there’s still a lack of understanding of how they actually work.” — Liz Henderson
“There are many sources of volatility related to natural disasters that are not easily identifiable or quantifiable in an indemnity product.” — Liz Henderson
“Insurance only picks up version portions of most losses, so that gap between what insurance covers and doesn’t cover is the protection gap.” — Liz Henderson
“Clients have to have an understanding of the risk that they’re actually facing on a holistic basis.” — Liz Henderson
“It isn’t just about physical property damage anymore. Weather affects all aspects of your business.” — Liz Henderson

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